Sonic Automotive, Inc. (NYSE:SAH) Holdings Cut by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 9.9% during the 4th quarter, HoldingsChannel reports. The fund owned 6,340 shares of the company’s stock after selling 696 shares during the period. Inspire Investing LLC’s holdings in Sonic Automotive were worth $402,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew its stake in Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares in the last quarter. Point72 DIFC Ltd lifted its holdings in shares of Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after buying an additional 187 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $244,000. Intech Investment Management LLC acquired a new position in Sonic Automotive in the second quarter worth approximately $228,000. Finally, MQS Management LLC bought a new position in Sonic Automotive during the third quarter valued at approximately $394,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SAH has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $74.00 target price on shares of Sonic Automotive in a research report on Thursday, January 16th. Bank of America reduced their price target on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.20.

Sonic Automotive Trading Up 2.9 %

Shares of NYSE:SAH opened at $71.12 on Monday. Sonic Automotive, Inc. has a 52-week low of $47.82 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The company has a market cap of $2.43 billion, a P/E ratio of 12.66 and a beta of 1.67. The stock’s 50-day moving average is $66.07 and its 200-day moving average is $61.08.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Sonic Automotive, Inc. will post 5.61 earnings per share for the current year.

Sonic Automotive Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.